Some Armenian exports sectors may suffer due to US tariffs on Armenian goods – expert

The introduction of customs duties on goods from Armenia by U.S. President Donald Trump will lead to an increase in prices for Armenian goods on the U.S. market, which will affect their competitiveness, says political scientist and director of the Center for American Studies, Suren Sargsyan.

“Some key industries may suffer due to a decrease in demand, particularly the export of aluminum, stones, precious metals, agricultural products, and alcohol,” he wrote on his Facebook page.

Sargsyan also provided data on trade turnover between Armenia and the U.S. in 2024.

“The total trade turnover between Armenia and the U.S. in 2024 is estimated at $282.4 million. U.S. exports to Armenia amount to $160.8 million, which is a 14.8% decrease ($27.9 million) compared to 2023. Imports from Armenia to the U.S. are $121.6 million, a decrease of 8.4% ($11.1 million) compared to 2023. The positive trade balance is $39.2 million, a 29.9% decrease ($16.7 million) compared to 2023,” he wrote.

U.S. President Donald Trump announced the introduction of new reciprocal duties on imported goods from 183 countries (territories) and the EU. Armenia is also included in the list, with a basic (minimum) duty of 10%, the same as for Georgia, Azerbaijan, and several other countries.

According to a decree published on the White House website, Trump declared a state of economic emergency, which grants him broad powers to impose duties. The decree states that the disparity in tariff rates and the lack of reciprocity in bilateral trade relations, evidenced by the U.S. trade deficit, pose an unusual and extraordinary threat to national security.

For China, the tariff rate on imported goods will be 34%, for European products 20%. Japan’s tariffs will be 46%, with a retaliatory rate of 24%. India’s tariffs on American goods are estimated at 52%, with a retaliatory rate of 26%. Russia is not on the list. Trump announced that the new customs duties will take effect on April 5.